TULSA, Okla. – A bonus of approximately $1.7 million was raised at the oil and gas lease sales auction held during the annual Osage Oil and Gas Summit on Nov. 9.
The $1.7 million figure is nearly double the $864,940 raised during the 2010 auction. This year’s auction is the 13th one for the tribe attended by representatives from various oil and gas company representatives at Tulsa’s Hyatt Regency hotel. The Osage Minerals Council and Bureau of Indian Affairs oversaw the auction, which featured 160-acre tracts of land available for oil and/or gas mining.